Parkway CFO Raises Possibility of New Bond Issue for 2014

With the last bit of funds from a 2008 bond issue scheduled to be spent this summer, the Parkway School District's chief financial officer is recommending the school board began talking about placing a new bond on the ballot next fall.

CFO Mark Stockwell made the remarks during a presentation to the board at their May 8 meeting. The bond serves as a source of funding for capital expenses, such as maintenance for the district’s facilities.

Parkway has about $5.4 million in various projects set for this summer. After that, the bond funds will be gone.

Stockwell said this means the district will no longer have money available for additional capital expense or improvements outside of emergency repairs. His preliminary 2013-14 budget sets aside $1 million for such maintenance.

“We won’t have any bond funds to depend on and we know roofs are going to leak and compressors are going to break,” he said.

At this point, Stockwell said a committee put together to discuss the district’s long-range facilities needs has talked about the possibility of looking at putting the new bond on the November 2014 ballot.

Stockwell’s remarks on the possible bond issue were part of a larger discussion about the district’s budget and no formal action was taken by the board.

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